A business’s success is often due in part to its location. The best merchandise and customer service can only be the best if people know of it or can discover it. When a new or existing business is searching for just the right spot to open shop to the public, there are several specifics they can research in order to make sure that it is the perfect spot for their business.
A lecturer in management and marketing at the University of Dayton’s School of Business, Irene Dickey, offers the following advice on researching an area to find out the best business potential for you at that site. Dickey suggests looking at the following in your choice area:
- Highway and roadway traffic
- Foot traffic
- Similar retailers that would draw traffic
- Lifestyle data
- Industrial or office parks
- Easy parking
- Building maintenance
St. Joseph restaurants and retail shops have many arteries throughout the city where they can benefit from passing travelers. Downtown retailers on the west side of St. Joseph benefit from travelers along Interstate 229, while the far east side of St. Joseph benefits from Highway 169 and Interstate 29. St. Joseph is fortunate to be surrounded on all sides by major highways. Highway 36 cuts through the center of St. Joseph and brings travelers from Colorado and Ohio.
You’ve undoubtedly recognized that when you pull off the interstate into a town that all the restaurants are clumped together as are all of the gas stations and hotels. Within the city, two different nationwide drug store chains sit directly across the street from each other and a few major home improvement stores are within a block of each other.
These businesses know how to find that best location for their business. Greg Kahn, the founder and CEO of Kahn Research Group in Huntersville, North Carolina, talks of the benefit of being situated near your biggest competitors. He reminds business owners that successful business owners have already done the homework on finding the best location for their business.
If your business would benefit from a similar market, your customers will start appearing. Quaint downtown areas in small towns also see this boom when beautiful shops of handcrafted soaps, quilts, clothing, home interior items and unique restaurants all line up along the same street. They welcome in a stream of foot traffic as customers easily move from door to door within a block or two.
Business owners can decide whether to save time and money researching an area by setting up shop next to similar retailers or to take a chance of setting up in a competitive-free area that has great possibility. Through the help of the St. Joseph Metro Chamber of Commerce, business owners can meet other business owners and ask them about their experiences. Those business contacts can help owners realize the pros and cons of certain locations.
Chamber contacts can give a wealth of knowledge to other business owners about best business practices and decisions. With some research and some friendly neighborhood business advice, as a business owner, you can find the best location for your business.